The courts etc are there so we don’t have to create a posse and ride out to find the snake oil salesman. You _can_ have commerce without them but it’s much higher friction. So if a crypto wants me to abandon the existing systems it needs to show it creates less friction.
Crypto’s use case isn’t for the layman. It’s for countries that aren’t aligned with America to have a separate currency system. Doubly useful for bypassing sanctions.
There's no need for a mob, government-backed or not. A vendor who scams his customer base is harvesting its good will, and eventually it will run out and he'll no longer able to do business.
